UAE oil minister expects oil price to rise in second half

VIENNA - UAE Oil Minister Suhail bin Mohammed al-Mazroui expects the oil price to pick up in the second half of this year, he said on Thursday.
Mazroui told reporters in Vienna the market needs the oil price to appreciate to sustain investment in the sector. Benchmark Brent crude was trading at just under $50 a barrel on Thursday.
Oil ministers from the Organization of the Petroleum Exporting Countries are meeting in the Austrian capital.